Not a credit score or a fat bank account – But the worlds first credit card for social media influencers will look for Instagram followers and TikTok views for eligibility

Image via - @camilacoelho

Yes, that’s right! While banks often shying away from extending credit facilities to social media influences, the folks at Social are up to quite the opposite! They have recently launched a credit card that is available only to the digital gang and cannot unfortunately not procured by the ordinary masses.

Karat credit card is endorsed by Alexandra Bortez a Twitch streamer. Via – @missbotez

Called the ‘Karat Black Card,’ the facility comes with no-annual-fee and requires you to pay your balance in full each month and doesn’t allow you to revolve your balance. While there are no specific criteria for approval, the card is granted after analyzing several data points ranging from the number and quality of your subscribers and so on.

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Another endorser is Youtuber Kelly Stamps. Via – @thekellystamps

On average, to avail of the option, YouTubers should have at least 100,000 followers, Instagrammers should have at least 125,000 followers, and TikTokers should have a whopping 2.5 million followers. It is also estimated that the average cardholder should possess an annual income of more than $500,000.

Via – Karat

Commenting on it, Will Kim, co-founder of the Karat Black Card, said, “The traditional financial product doesn’t understand creators,” he further added, “This is a new type of business, a $15 to $20 billion industry, and there are millions of creators, and they make lots of money. Traditional financial institutions don’t fit their model.”

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With features such as customized rewards, welcome offers, and zero foreign transaction fees, the Karat Black Credit Card is a steal! If you’re an influencer who fits the bill, consider getting your hands on it, maybe?

[Apply at Karat via: CNBC]

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A lawyer with a zeal for writing, Ekta has a deep love for linguistics, travel, and philosophy. Not an adrenalin junkie but likes going on occasional hikes to beat the weekday blues. Her bucket list includes escapades to Vietnam, Cambodia, and Morocco.